SoFi Technologies has announced its new Agentic AI ETF, enabling investors to gain access to a rapidly evolving sector.
Launch of the AI ETF
SoFi officially unveiled the Agentic AI ETF (AGIQ) after nearly two years. This ETF tracks the BITA U.S. Agentic Select Index, which includes 30 U.S. companies focused on developing and deploying agentic AI, such as Nvidia and Deere, with an expense ratio of 0.69%.
Goals and Structure of the Funds
AGIQ aims to capture companies engaged in developing or deploying agentic AI autonomous systems. The index includes technology sector companies like Tesla and Salesforce. Brian Walsh, head of advice and planning at SoFi, described the ETF as a way for retail investors to access the evolving AI landscape.
Analysts' Opinions on the AI Market
Analysts highlight growing concerns about potential overcrowding in the AI market. Some believe that companies like Nvidia and Palantir may face long-term challenges due to high valuations. Roxanna Islam from VettaFi emphasized that the AI ETF market is becoming crowded, complicating asset gathering for new entrants.
The launch of the Agentic AI ETF by SoFi reflects the company's aim to carve out its niche in the AI market, despite potential risks and market saturation.
